Quarterly report pursuant to Section 13 or 15(d)

Condensed Balance Sheets (Unaudited)

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Condensed Balance Sheets (Unaudited) - USD ($)
Jun. 30, 2017
Dec. 31, 2016
Current assets:    
Cash and cash equivalents $ 131,666 $ 687,185
Accounts receivable 873 5,011
Prepaid expenses and other current assets 316,600 82,710
Inventory, net 53,775 55,116
Total current assets 502,914 830,022
Property and equipment, net 3,129 1,577
Intangible assets, net 471,429 503,571
Goodwill 69,782 69,782
Total assets 1,047,254 1,404,952
Current liabilities:    
Accounts payable 296,671 319,474
Accrued expenses and other current liabilities 448,912 347,405
Deferred revenue 112,162 112,162
Notes payable - related party, current portion 292,863 297,820
Total current liabilities 1,150,608 1,076,861
Convertible notes payable, related party, net of discount 1,092,297 754,461
Convertible notes payable, net of discount 792,789 364,619
Warrant liability 860,248 1,093,765
Derivative liability 769,145 1,234,106
Total liabilities 4,665,087 4,523,812
COMMITMENTS AND CONTINGENCIES (Note 9)
Stockholders' deficit:    
Preferred stock, $0.001 par value, 5,000,000 shares authorized, none issued and outstanding
Common stock, $0.001 par value, 400,000,000 shares authorized, 47,741,137 and 46,702,836 shares issued and outstanding at June 30, 2017 and December 31, 2016, respectively. 47,741 46,703
Additional paid-in capital 15,158,175 15,060,616
Accumulated deficit (18,823,749) (18,226,179)
Total stockholders' deficit (3,617,833) (3,118,860)
Total liabilities and stockholders' deficit $ 1,047,254 $ 1,404,952